The report is based on responses from 468 small businesses with working capital loans and over 3.45 million small business applications for working capital financing during the past 15 months. The nationwide survey was completed between December 15–23, 2025. For more information and complete survey results, please visit: ondeck.com/small-business-trends. 94% of small businesses anticipate growth over the next year as owners invest in efficiency and plan ahead amid evolving market conditions CHICAGO, Jan. 28 ...

Core Insights - BCP Investment Corporation reported a 50.0% increase in total investment income to $18.9 million for Q3 2025, compared to $12.6 million in Q2 2025, and a 94.2% increase in net investment income to $8.8 million ($0.71 per share) from $4.6 million ($0.50 per share) in the previous quarter [1][5][9] - The company announced a quarterly base distribution of $0.47 per share, payable on November 25, 2025 [1][10] - A modified Dutch Auction tender offer of $9.0 million is set to launch, with expectations of repurchasing up to 10% of the company's outstanding common stock by year-end [1][6][8] Financial Performance - Total investment income for Q3 2025 was $18.9 million, with core investment income at $15.3 million, compared to $12.6 million in Q2 2025 [5][11] - Net asset value (NAV) increased by 40.4% to $231.3 million ($17.55 per share) as of September 30, 2025, from $164.7 million ($17.89 per share) at the end of Q2 2025 [5][11] - The investment portfolio at fair value as of September 30, 2025, was $539.7 million, comprising 116 different portfolio companies [11][12] Debt and Financing - The company issued $35.0 million of 7.50% notes due 2028 and $75.0 million of 7.75% notes due 2030, with interest payable semi-annually [5][10] - As of September 30, 2025, the company had approximately $324.6 million in outstanding borrowings, with a current weighted average interest rate of 6.1% [17][18] - The company plans to redeem $108.0 million of its 4.875% notes due 2026, with redemption expected on November 13, 2025 [5][10] Strategic Initiatives - The merger with Logan Ridge Finance Corporation on July 15, 2025, has enhanced the company's scale, portfolio diversification, and operational efficiencies [2][7] - Management emphasized a focus on disciplined capital allocation and maintaining a high-quality portfolio to drive long-term value for shareholders [10][11] - The company aims to narrow the discount to NAV through share repurchases and the tender offer [8][9]